American automakers who got overenthusiastic about electric vehicles continue to pay the price—literally. Yesterday, General Motors told investors that building and selling fewer EVs will cost the company $6 billion. Still, things could be worse—last month, rival Ford said it would write down $19.5 billion as a result of its failed EV bet.
GM is not actually abandoning its EV portfolio, even as it reduces shifts at some plants and rep…
General Motors writes down $6 billion as domestic EV sales plans change
January 09, 2026